Evidence from Firm-level Data in Vietnam

(0.3254) (0.4484) (0.6159) (0.3229) (0.4925) (0.6150)Industry 11 0.0025 -0.7624 0.5754(0.4814) (0.7946) (0.9752)Industry 12 -0.2493 -0.5279 0.5428 -0.2348 -0.4110 0.5173(0.3224) (0.4966) (0.5677) (0.3185) (0.6251) (0.5656)Year 2004 0.4516 0.4966 -0.1624 0.4619 0.5692 -0.1555(0.1265) *** (0.1731) *** (0.1440) (0.1258) *** (0.1851) *** (0.1431)Region 1 -0.0072 -0.0973 -0.3651 0.0144 -0.1068 -0.19520.2309 0.3683 0.4296 0.2290 0.4053 0.4235Region 2 -0.0690 -0.3944 -0.0663 -0.0857 -0.7134 0.01710.2718 0.4519 0.4940 0.2707 0.5347 0.4894Region 3 -0.0008 0.0717 0.6811 0.0069 0.7226 0.7880(0.2308) (0.3623) (0.4217) (0.2287) (0.4317) * (0.4170) *Region 4 0.0055 -0.4092 -0.2427 0.0267 -0.1753 -0.0682(0.2778) (0.4510) (0.5305) (0.2769) (0.4877) (0.5234)Constants -1.9556 -2.0403 -0.6115 -2.0015 -2.5153 -0.8243(0.2980) *** (0.4560) *** (0.5163) (0.2969) *** (0.5710) *** (0.5249)Observations 1601 3051 1526 1635 3051 1558Log likelihood -261.93 -551.69 -484.48 -267.33 -567.84 -491.70Chi2 1536.15 271.16 253.30 1570.81 203.94 261.76Not e:*** , ** , and * indicate significance at 1% , 5%, and 10% levels, respectively; Standard errors inparentheses; (1) and (4): Probit in pooled data; (2) and (5): Heckman’s random-effects dynamicprobit; (3) and (6): Random-effects probit in the sample of non-status-switchers; Number ofobservations in (2) and (5) includes those with missing data due to lagging of dependent variable;Superscript( a ) indicates a level relative to industry mean29